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What is the Journal entry for collected 770 in advance from a customer?
Wiki User
∙ 7y ago
A cash advance received from customer journal entry is required when a business receives a cash payment from a customer in advance of delivering goods or services.
Wiki User
∙ 7y ago
Wiki User
∙ 9y ago1. [Debit] Cash / bank 770
[Credit] Customer advances 770
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Journal entry for income received in advance?
Debit customer depositsCredit unearned revenue
What is the Journal entry for advance?
Debit advance paidCredit cash / bank
What is the journal entry for settlement of advance?
Suppose "A" Gives Rs 100000 as an Advance to "B" what will be the Journal Entry of Advance given to B and latter the Advance settling entry after the B give a bill to A
When a product or service is delivered for which a customer advance has been previously received what is the appropriate journal entry?
[Debit] Unearned revenue [Credit] Sales revenue
What is the journal entry of rent recieved in advance?
cash debit rent in advance credit
What is the journal entry in granting the travel in cash advance?
debit advance cashcredit cash / bank
What is the journal entry for cash advance to employee's pay?
Debit advance salaryCredit cash / bank
What is the journal entry of payment received in advance?
Debit advance cash receivedCredit unearned revenue
What is the Journal entry for purchase of asset by advance payment?
Debit advance payment for assetCredit cash / bank
What is journal entry for expense payment?
what is the entry for an excess payment from customer
What is the journal entry for deferred revenue?
As it is a advance receipt the journal entry would be cash dr. to deferred revenue
What is the journal entry to record collected fees?
Debit cash / bankCredit fee income
